Two Point Capital Management Inc. Reduces Stock Position in Intuit Inc. (NASDAQ:INTU)

Two Point Capital Management Inc. trimmed its position in Intuit Inc. (NASDAQ:INTU) by 3.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,452 shares of the software maker’s stock after selling 343 shares during the quarter. Intuit accounts for 3.0% of Two Point Capital Management Inc.’s holdings, making the stock its 16th largest holding. Two Point Capital Management Inc.’s holdings in Intuit were worth $6,533,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in INTU. MCF Advisors LLC raised its position in shares of Intuit by 119.0% in the 4th quarter. MCF Advisors LLC now owns 46 shares of the software maker’s stock worth $29,000 after acquiring an additional 25 shares in the last quarter. NewSquare Capital LLC bought a new position in shares of Intuit in the 3rd quarter worth $25,000. Cape Investment Advisory Inc. bought a new position in shares of Intuit in the 3rd quarter worth $26,000. Steward Financial Group LLC increased its position in Intuit by 50.0% during the 3rd quarter. Steward Financial Group LLC now owns 60 shares of the software maker’s stock valued at $30,000 after buying an additional 20 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. acquired a new position in Intuit during the 4th quarter valued at about $38,000. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on INTU shares. Barclays boosted their price target on Intuit from $735.00 to $745.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Stifel Nicolaus upped their target price on Intuit from $600.00 to $720.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Mizuho upped their target price on Intuit from $670.00 to $725.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. upped their target price on Intuit from $560.00 to $585.00 and gave the stock a “neutral” rating in a research note on Friday, February 23rd. Finally, StockNews.com downgraded Intuit from a “buy” rating to a “hold” rating in a research note on Monday. Five research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, Intuit currently has an average rating of “Moderate Buy” and an average price target of $650.23.

Insider Transactions at Intuit

In other news, EVP Alex G. Balazs sold 280 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $636.38, for a total transaction of $178,186.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Kerry J. Mclean sold 3,692 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $663.84, for a total value of $2,450,897.28. Following the sale, the executive vice president now directly owns 22,948 shares in the company, valued at approximately $15,233,800.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Alex G. Balazs sold 280 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $636.38, for a total transaction of $178,186.40. The disclosure for this sale can be found here. Insiders have sold a total of 4,717 shares of company stock valued at $3,117,156 in the last ninety days. 2.90% of the stock is currently owned by company insiders.

Intuit Stock Performance

INTU stock traded up $13.15 on Friday, hitting $639.54. The company’s stock had a trading volume of 766,097 shares, compared to its average volume of 1,243,321. The firm has a 50 day moving average of $640.64 and a two-hundred day moving average of $602.03. Intuit Inc. has a 1 year low of $400.22 and a 1 year high of $671.01. The stock has a market cap of $179.07 billion, a price-to-earnings ratio of 64.88, a price-to-earnings-growth ratio of 3.87 and a beta of 1.21. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35.

Intuit (NASDAQ:INTU) last released its quarterly earnings results on Thursday, February 22nd. The software maker reported $2.63 EPS for the quarter, beating the consensus estimate of $2.30 by $0.33. Intuit had a net margin of 18.35% and a return on equity of 17.51%. The firm had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the prior year, the firm earned $1.05 EPS. Intuit’s revenue for the quarter was up 11.3% on a year-over-year basis. Equities analysts predict that Intuit Inc. will post 11.27 EPS for the current fiscal year.

Intuit Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 10th were paid a dividend of $0.90 per share. The ex-dividend date was Tuesday, April 9th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 0.56%. Intuit’s dividend payout ratio (DPR) is presently 36.73%.

About Intuit

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.